#Sweden #Stockholm #Boliden #Mikael Staffas #European metals

Boliden's Q1 2025: A Strong Start to Our Second Century

In an announcement made on April 23, 2025, Boliden reported substantial growth in its first-quarter performance, laying the groundwork for a promising future as a leading European base metal producer. Mikael Staffas, the company’s President and CEO, expressed pride in their achievements, stating, "We are proud to build a European base metal champion."

Financial Highlights

Boliden's financial results for Q1 2025 reveal a revenue increase to SEK 21,121 million compared to SEK 18,481 million in the same quarter of the previous year. This uptick is attributed to several factors, including rising metal prices and favorable exchange rates.

In terms of profits, the operating profit surged to SEK 3,062 million, a remarkable increase from SEK 1,615 million reported last year. Significantly, when excluding the revaluation of process inventory, the operating profit stood at SEK 2,599 million, indicating robust operational performance despite various challenges.

However, Boliden faced hurdles, such as strikes in Finland, which negatively impacted their operating profit by an estimated SEK 100 million, down from a more severe SEK 400 million previously experienced. Additionally, the free cash flow returned a negative SEK 1,869 million, a decline compared to SEK 1,508 million in the previous year, primarily due to an increase in working capital, albeit offset by SEK 350 million in insurance proceeds.

Operational Advances

Looking into operational metrics, Boliden has observed a decline in milled volume and recoveries at its Aitik site. However, on the bright side, the ramp-up of its Tara mine continues to progress positively, while the Odda facility has initiated the commissioning of an expansion project aimed at increasing its processing capacity.

Furthermore, the company has successfully raised SEK 3.75 billion through a directed share issue, showcasing investor confidence in Boliden's growth trajectory and financial health.

Future Outlook

Boliden's Interim Report presenting these findings will be accessible via a webcast and conference call on April 23 at 0930 (CEST), where further insights and projections will be shared with stakeholders and analysts. The company remains committed to its strategic vision of fostering sustainable growth within the base metal market while navigating the complexities of industry dynamics.

For more detailed information and updates, stakeholders can visit Boliden’s official website at www.boliden.com.

In conclusion, Boliden’s strong Q1 results mark a triumphant beginning to its second century in business. The growth in revenues and operating profits, alongside strategic operational advancements, positions the company favorably within the competitive landscape of the European metals industry.